1. EQ # September 19, (4 pts)
Quantity of
Sandwiches 15 10 20
Quantity of Sandwiches
1. What caused the budget line to change?
(a) The price of Chick-fil-A sandwiches rose.
(b) The price of Subway sandwiches fell.
(c) The expenditure (budget allotment) on Subway sandwiches and Chick-fil-A sandwiches rose.
(d) The price of Subway sandwiches rose.
(e) The price of Chick-fil-A sandwiches fell.
2. If the expenditure on Chick-fil-A Sandwiches and Subway sandwiches equals $60, what is the price of a Chick-fil-A sandwich?

2. 3. The budget for this consumer is $48
3. The budget for this consumer is $48. List two true statements concerning this diagram:
(a) (b)
4. The marginal utility of Dr. Pepper is the same as the marginal utility of Pepsi. Suppose the price of Dr. Pepper is $2/glass. In order for a rational consumer to buy more glasses of Pepsi than Dr. Pepper, the price of Pepsi must be:
(a) equal to $2 (c) less than $2 (b) greater than $2 (d) can’t say; insufficient information